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Warning: 12,000 Bitcoin from Plustoken Wallet on the Move Again

Plustoken scammers are moving 12,000 BTC worth $118 million, according to China-based blockchain security firm PeckShield.


Plustoken, the notorious ponzi scheme, is believed to have amassed as much as $3 billion in cryptocurrency, largely from Chinese investors who were duped into believing that the scheme would provide them with high returns.

The scam went bust in July 2019 after Chinese police arrested six core team members of the scheme who had escaped to Vanuatu at that time. Identified as the largest Ponzi scheme in the crypto space, PlusToken made off with over 200k BTC, 800k ETH, 26 million EOS, totaled around a whopping $3 billion.

The bitcoin move from Plustoken wallet came just days after bitcoin price broke above $10,000, a mark last seen in October 2019. It triggers many to believe that another dump is about to come which could lead to bitcoin price falls.

Prior to it, Bitcoin dip under the $10,000 mark in mid-August 2019 had been alleged to be directly related to the incessant BTC selloffs from the scam. The latest bitcoin movement from its related wallets indicates other active members behind the scam are still at large.

At present, the 11,999 BTC on move has been under close supervision. The scheme is known to move the stolen cryptos into smaller transactions and liquidate them incessantly in a long time. It deserves the attention from exchanges and other platforms though tracking mixed bitcoin is not an easy task.


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